ROBIT PLC PRESS RELEASE 27 OCTOBER 2020 AT 11.15 A.M.
ROBIT PLC: STRONG GROWTH – FOURTH CONSECUTIVE QUARTER OF GROWTH
Robit continues on a solid path of growth. The company now reports a fourth consecutive quarter of the company’s net sales growing.
Robit’s net sales grew by 8.8 percent in July–September 2020 compared to the comparative period, totaling EUR 24.2 million (22.2). In constant currencies, the change was 16.2 percent. Simultaneously, Robit’s orders received grew by 7.8 percent. In January–September, Robit’s net sales totaled EUR 67.9 million (64.3), up 5.6 percent on the comparison period. In constant currencies, the growth was 9.7 percent.
Robit’s profitability developed as planned. EBITDA in July–September 2020 improved totaling EUR 1.7 million (0.2). In particular, the development of sales and the improved cost structure supported the positive development of profitability. The current structure and resources enable Robit to continue to grow and progressively improve its profitability.
Despite the COVID-19 pandemic, Robit managed to continue its growth and maintain active sales work. All the company’s four factories operated also without distractions and increased their production to meet the growing sales.
Market demand still varied significantly across regions and countries. The development of demand was tied to business restrictions imposed by regional authorities. In general, governments have made it possible for the mining and construction industry to return to normal operations. These restrictions are expected to continue for the time being. Based on the current facts, the impact of these restrictions is expected to be moderate in consumables business.
Robit will launch new products during the next months. Strengthened offering will support company’s development during next year.
On 24 March 2020, Robit renounced its profit guidance for the financial year 2020 for the time being. The uncertainty of the development of the business and economy caused by coronavirus makes normal forecasting of business outlooks more difficult. The outlook and guidance can be updated again once the market situation offers the normal preconditions for it.
Tommi Lehtonen, Group CEO
+358 40 724 9143
Nasdaq Helsinki Ltd
Robit is a strongly internationalized growth company servicing global customers and selling drilling consumables for applications in mining, construction and contracting, tunneling and well drilling. The company’s offering is divided into two product and service ranges: Top Hammer and Down-the-Hole. Robit has 12 of its own sales and service points throughout the world as well as an active sales network in 100 countries. Robit’s manufacturing units are located in Finland, South Korea, Australia and the UK. Robit’s shares are listed on Nasdaq Helsinki Ltd. Further information is available at www.robitgroup.com.